Causeway Capital Management LLC Acquires 487,823 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Causeway Capital Management LLC increased its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 33.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,929,604 shares of the technology company’s stock after acquiring an additional 487,823 shares during the quarter. Check Point Software Technologies accounts for approximately 8.2% of Causeway Capital Management LLC’s portfolio, making the stock its 2nd largest position. Causeway Capital Management LLC owned approximately 1.75% of Check Point Software Technologies worth $360,257,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CHKP. World Investment Advisors raised its stake in Check Point Software Technologies by 4.4% during the 4th quarter. World Investment Advisors now owns 30,041 shares of the technology company’s stock worth $5,609,000 after buying an additional 1,278 shares during the period. Truist Financial Corp increased its position in shares of Check Point Software Technologies by 2.6% during the fourth quarter. Truist Financial Corp now owns 119,504 shares of the technology company’s stock worth $22,311,000 after acquiring an additional 3,080 shares in the last quarter. Vestmark Advisory Solutions Inc. raised its stake in shares of Check Point Software Technologies by 99.3% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 4,973 shares of the technology company’s stock worth $928,000 after purchasing an additional 2,478 shares during the last quarter. Hickory Asset Management Inc. bought a new stake in Check Point Software Technologies during the fourth quarter worth $476,000. Finally, Assetmark Inc. raised its position in Check Point Software Technologies by 44.1% in the 4th quarter. Assetmark Inc. now owns 140,943 shares of the technology company’s stock valued at $26,314,000 after buying an additional 43,165 shares during the last quarter. Institutional investors and hedge funds own 98.51% of the company’s stock.

Analysts Set New Price Targets

CHKP has been the subject of several analyst reports. Barclays increased their target price on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Piper Sandler upgraded shares of Check Point Software Technologies from a “neutral” rating to an “overweight” rating and increased their price target for the company from $220.00 to $260.00 in a research report on Monday, March 3rd. Guggenheim reiterated a “neutral” rating on shares of Check Point Software Technologies in a research note on Friday, January 31st. Wells Fargo & Company upgraded Check Point Software Technologies from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $200.00 to $280.00 in a research note on Friday, March 14th. Finally, BMO Capital Markets upgraded Check Point Software Technologies from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $245.00 to $275.00 in a research note on Friday, March 28th. Fifteen investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $236.13.

Check Point Software Technologies Stock Up 1.8 %

NASDAQ CHKP opened at $217.71 on Monday. The stock’s 50-day simple moving average is $221.43 and its two-hundred day simple moving average is $200.72. Check Point Software Technologies Ltd. has a twelve month low of $145.75 and a twelve month high of $234.36. The company has a market capitalization of $23.94 billion, a price-to-earnings ratio of 29.14, a PEG ratio of 3.41 and a beta of 0.62.

About Check Point Software Technologies

Check Point Software Technologies Ltd. develops, markets, and supports a range of products and services for IT security worldwide. The company offers a multilevel security architecture, cloud, network, mobile devices, endpoints information, and IOT solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against fifth generation cyber-attacks across various networks, endpoint, cloud, workloads, Internet of Things, and mobile.